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German inflation higher than estimated in January
Published in Saudi Press Agency on 29 - 02 - 2008


High prices for food and energy
propelled annual inflation in Germany to 2.8 per cent in January, the
Federal Statistics office said Friday, adjusting a previous estimate
of 2.7 per cent, DPA reported.
The new figures showed an increase in annualized inflation for
December 2007 to 3.2 per cent from the previous estimate of 2.8 per
cent.
On a month-to-month basis, prices dropped 0.4 per cent in January,
mainly as a result of seasonal factors and the wearing off of a 3 per
cent sales tax increased introduced at the start of 2007.
Consumer prices rose 2.3 per cent in 2007, the highest rate of
increase since 1994. Bigger than usual price increases for energy and
fuel as well as for many food products were major contributing
factors to the higher rate.


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